Gingrich breaks down Trump’s stance on payroll tax cut

Gingrich breaks down Trump’s stance on payroll tax cut

August 27, 2019 100 By Stanley Isaacs


PRESIDENTIAL MEDAL OF HONOR. FOR NOW, BACK TO YOU.>>Jon: KEVIN CORKE, THANK YOU THANK YOU.>>I’M NOT LOOKING AT A TAX CUT NOW. WE DON’T NEED IT. WE HAVE A STRONG ECONOMY. A PRESIDENT OBAMA DID THAT IN ORDER TO ARTIFICIALLY CHECK OF THE ECONOMY. PRESIDENT OBAMA HAD ZERO INTEREST FOR ME. I DON’T HAVE ZERO INTEREST. I HAVE REAL INTEREST RATES, AND I HAVE A STRONG ECONOMY.>>Sandra: PRESIDENT TRUMP SHOOTING DOWN A POTENTIAL TAX CUT, TOUTING AN ALREADY STRONG U.S. ECONOMY. HERE TO TALK ABOUT HER, NEWT GINGRICH. GOOD MORNING TO YOU, MR. SPEAKER. YOU HAVE SORT OF GONE BACK AND FORTH. ORIGINALLY, THE WHITE HOUSE IS THAT THEY WERE NOT CONSIDERING THIS, AND EVEN CAME ON THIS PROGRAM. THE WHITE HOUSE SPOKESPERSON SAID THEY ARE NOT, THEN THE PRESIDENT THE NEXT DAY SO YEAH, WE’RE LOOKING AT IT. SO THERE’S A LOT OF UNCERTAINTY ABOUT WHETHER THEY ARE MOVING IN THAT DIRECTION, BUT CLEARLY, HE IS TRYING TO CALM CONCERNS ABOUT A RECESSION.>>WELL, I THINK THAT THE PRESIDENT WAVERS IN PART BASED ON THE NEWS MEDIA COVERAGE. WHEN THERE WAS AN EFFORT TO SORT OF PANIC THE ECONOMY INTO A RECESSION, THE WHITE HOUSE WENT ALL OUT WITH OTHERS ON TV SAYING THINGS ARE FINE, DON’T WORRY ABOUT IT. HE MADE A SPEECH. EVERYTHING IS FINE. LOOKING AT WHAT TOOLS THEY HAVE. NOW I THINK THEY ARE PRETTY WELL CONVINCED THAT IN FACT WE ARE NOT GOING TO HAVE A RECESSION IN THE NEAR FUTURE AND THEY DON’T NEED ANY OF THOSE TOOLS, SO THEY ARE SORT OF PUTTING THEM BACK. HOLDING THEM DOMINIC ONTO THEM IN CASE IN 2020 OR 2021, THEY NEED TO LOOK AT THEM. THE PRESIDENT IS A BUSINESSMAN. LIMITED PAYROLL TAX CUT. IT ISN’T MUCH OF A BOOST. IF YOU GET PERMANENT TAX CUTS, IT’S A DIFFERENT THING BECAUSE IT CHANGES YOUR BEHAVIOR. A VERY SHORT TERM TAX CODE, FRANKLY, YOU’RE JUST GOING TO SPEND IT. WE ARE GETTING A MUCH BIGGER BOOST OUT OF THE OIL AND GAS PRICES, WHICH ARE THE EQUIVALENT OF A MAJOR TAX CUT IN TERMS OF ACTUAL SPENDING POWER. A LOT LESS MONEY THAN THEY COULD TWO OR THREE YEARS AGO.>>Sandra: HE ALSO CONTINUES TO CALL ON THE FED TO CUT INTEREST RATES. SEVERAL TIMES, EVEN, BY THE END OF THE YEAR, OR AT LEAST A COUPLE TIMES. SO “THE WALL STREET JOURNAL” TAKES US ON A PIECE THIS MORNING. “REALLY INTERESTING PIECE. WHERE IT LOOKS I’M NOT ONLY THE CONFUSION AND UNCERTAINTY BUILDING AROUND WHETHER OR NOT THERE WILL BE AT A PAYROLL TAX CUT, BUT ALSO TAKES ON THE PRESIDENT ON THE ECONOMY, WHETHER OR NOT WE ARE TO SEE HIM TOUTING THE STRONG U.S. ECONOMY, BUT HE WANTS IS INTEREST RATE CUTS. BUT HE GOES ON TO SAY THAT IF THE PRESIDENT REALLY WANTS TO GIVE THE ECONOMY A BOOST, THERE IS SOMETHING THAT HE CAN DO WITHOUT CONGRESS, AND HE CAN CUT HIS TRADE UNCERTAINTY TAX. IT MAKES THE CASE THAT BUSINESS INVESTMENT IS SUFFERING BECAUSE NO ONE KNOWS WHERE HE IS GOING NEXT WITH THIS TRADE BATTLE. SPEAKER.>>THERE IS A BIG DIFFERENCE OF OPINION ABOUT HOW IMPORTANT IT IS TO DEAL WITH CHINA. THE PRESIDENT HAS MADE A DECISION THAT THE THREAT OF CHINESE DISHONESTY, THE THREAT OF THE CHINESE STEALING INTELLECTUAL PROPERTY, THE THREAT OF THE CHINESE SETTING UP A VARIETY OF ONE-WAY GAINS, WHETHER WE WIN OR WE LOSE, THAT IS A CONSIDERABLE THREAT. NOW, OTHER FOLKS DO NOT THINK THAT CHINA IS A PROBLEM. THEY WOULD LIKE TO USE ANY EXCUSE TO GET HIM TO BACK OFF, WHICH I HOPE THAT THEY WON’T DO. ON THE OTHER FRIEND, THE AMERICAN ECONOMY IS PROBABLY THE SINGLE STRONGEST ECONOMY IN THE ROAD RIGHT NOW. WE HAVE A HIGHER INTEREST RATE THAN EUROPE DOES, WHICH MEANS IF YOU ARE A WEALTHY PERSON, YOU ARE GETTING OUT OF EUROPEAN BONDS, WHICH NO PAY ZERO PURITY REMOVING INTO AMERICAN BONDS, SO WE ARE SEEING ARTIFICIAL STRENGTH IN THE DOLLAR. WE HAVE A MUCH HIGHER INTEREST RATE THAN EUROPE DOES, AND THE PRESIDENT WOULD LIKE TO SEE THE FEDERAL RESERVE KIND OF BRING OUR INTEREST RATES DOWN TO BE MORE COMPETITIVE WITH EUROPEAN INTEREST RATES.>>Sandra: WE HAVE SEEN THE PRESIDENT MAKE THAT CASE. THAT MAKES OUR EXPORT GOODS MORE EFFECTIVE WHEN WE HAVE THAT STRONG U.S. DOLLAR. MEANWHILE, MOVING ON TO THESE TWO DIFFERENT DEMOCRATIC CONGRESSWOMEN, THE PRESIDENT IS DOUBLING DOWN WHEN HE SAID THIS.>>MY OPINION, THE DEMOCRATS HAVE GOTTEN VERY FAR AWAY FROM ISRAEL. I CANNOT UNDERSTAND HOW THEY CAN DO THAT. THEY WANT TO TAKE AWAY FOREIGN AID TO ISRAEL. THEY WANT TO DO A LOT OF BAD THINGS TO ISRAEL. IN MY OPINION, YOU VOTE FOR DEMOCRATS, YOU’RE BEING VERY DISLOYAL TO JEWISH PEOPLE, AND YOU’RE BEING VERY DISLOYAL TO ISRAEL.>>Sandra: CLEARLY DOUBLING DOWN THERE. IS THIS A MESSAGE THE PRESIDENT SHOULD STAY ON, SPEAKER?>>I THINK THE GENERAL MESSAGE IS RIGHT, BUT HE HAS A TENDENCY TO GO ABOUT 10% TOO FAR UP YOUR DISLOYALTY HAS NOTHING TO DO WITH IT. IT IS A MATTER OF JUDGMENT. THE RADICALS IN THE DEMOCRATIC PARTY STAND FOR THE ELIMINATION OF ISRAEL AS A COUNTRY. AND I THINK THOUGH THAT IS GOING TO CALL IS ULTIMATELY A PRETTY PROFOUND CIVIL WAR IN THE DEMOCRATIC PARTY. I GET VERY NERVOUS WHEN WE START GETTING INTO ISSUES OF LOYALTY AND DISLOYALTY. YOU CAN HAVE A SINCERE, HONEST DISAGREEMENT AND NOT HAVE IT AFFECT WHETHER OR NOT YOU ARE LOYAL. I THINK WHAT HE IS SAYING AT A DIFFERENT LEVEL IS THESE PEOPLE ARE REALLY BAD FOR THE FUTURE OF ISRAEL. IF YOU LOOK AT WHAT THEY WOULD DO, THEY BASICALLY WOULD ELIMINATE ISRAEL AS A COUNTRY. WE CAN HAVE AN HONEST STRAIGHT UP DEBATE AS WHY THE DEMOCRATIC PARTY IS TOLERATING A GROUP OF PEOPLE THAT ARE DEEPLY ANTI-ISRAELI AND DEEPLY ANTI-SEMITIC. AND WE DON’T HAVE TO GO TO INTO LOYALTY ABOUT AMERICA. THESE ARE NOT PEOPLE WHO WANT TO HAVE A SOUND FUTURE FOR ISRAEL.>>Sandra: WE’VE GOT FIVE SECONDS LEFT. I KNOW THAT YOU WANT PEOPLE TO CHECK OUT THIS PROJECT. FINAL THOUGHTS ON THAT BEFORE WE LET YOU GO?>>I POSTED IT ON FOX NEWS. I THINK WE OUGHT TO HAVE A PRIZE — ELON MUSK ENDURES TO THIS IDEA. $2 BILLION, ABOUT THE COST OF ONE SPACE LAUNCH. I THINK YOU MIGHT SEE LOTS OF PEOPLE COMPETING TO GET TO THE